As a consequence of continuous followup and observations of the best and most important investment opportunities in Africa.
NREC had chosen Djibouti to be the base for more than one Major Investment Project. One of those is the Djibouti Delta Project, located in the Doraly area, 12 kilometers from the Capital Centre and the International Airport. The total Project area is about 385 Hectares which is equal to 385,000 m2 of land, and is a location that is considered one of the best available in Djibouti, and can be used for many multi purpose investments activities.
The preliminary proposed Master Plan for this project is expected to be ready by the end of March 2009, and the construction activities related to phase No.1 will be started before the end of September 2009. This project is designed to provide essential services to all other new investment projects nearby, and also for the industrial areas that are close to it. Also, the project includes a beautiful sea front of 2 kilometers which will provide all supporting tourist facilities. It is expected to be completed within 4 years from the date of commencement of the construction activities.

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This Kuwaiti society has also won the contract to build 1600 new social housing units at the western suburb of Djibouti-city. They're also building a construction facility to supply the construction of social housing in the capital and different regions.

NREC signed a contract with the Government of Djibouti
On the 17th February, 2009, the National Real Estate Company signed a contract with the Government of Djibouti to develop an area of land equivalent to 360,000 square meters for setting up a residential city containing around 1,600 units.

The contract was signed by His Excellency, the Minister of Investment and Parliament Relations Development of Djibouti, Osman Ahmed Moussa, NREC’s representative Mr. Usama Al-Bader and Locrete Industries representative Mr. Fahim Kassis.

NREC will use the construction expertise of Locrete, one of NREC’s subsidiaries, in the establishment of the residential units which will help in solving the housing shortage problem in the Republic of Djibouti.

This contract, the first of its kind in this field, will be completed in a period not exceeding 18 months from the date of commencement.

Locrete is an innovative patent-protected building system for constructing walls and structural slabs. It consists of pre-cast, pre-stressed concrete elements that have a unified cross section and variable lengths and can span up to 6 meters.

The system provides a substantial improvement in the quality of structure and major savings in construction cost, time, equipment and labour.

Particular characteristics make Locrete a preferred solution, especially for projects with a repetitive nature and modular form. Locrete homes are structurally sound, energy-efficient, and environmentally responsible and require minimal maintenance and repairs. Locrete Industries contracted Kuwait Institute for Scientific Research (KISR) to perform structural and other various tests on the system. The results have exceeded the requirements of the American code (ACI 318) and validated the system's fitness for intended use.

The first Locrete housing project will be implemented in Djibouti, where Locrete signed an agreement with the Djiboutian Government to build a factory to provide Locrete for 1,600 housing units of type F2, F3 and F4 which will be completed in 28 months.

The video was great, thanks for sharing. My favorite render is that of the hotel.

Djibouti is really becoming a hotspot when it comes to development. Maybe it will be much different 10 years from now.

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This project site that is located in the Doraleh area (where has been inaugurated last February East Africa's biggest port) is basically being built to provide services for the port itself, the Free Zone and the industrial zone being built in that same area.
The construction of that port complex has brought with it numerous similar projects.

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Well officially the project has to be carried on, because Tarik Ben Laden (the man behind the idea) reassured Djibouti's president in a recent visit to Dubai that the economic downturn would not affect the project because the funds were from oil rich gulf states and already secured, but rumors say that the economic downturn will cause a delay in the project and there is also the fact that Eritrea (the region's trouble-maker) mantains its troups at the border and still refusing to sit at the negociating table with Djibouti. The area were the project is to be built is located aroud 20km from the Djibouti/Eritrea border, and in order to invest billions the border dispute with Eritrea has to resolved. But as you know, Eritrea is not really a fan when it comes to solving issues diplomatically.
Anyway, we hope this economic downturn and border dispute will resume and the project will be carried out at lat.